KevC

if I send you the cash can you post me some?

Vim Fuego

Fortnightly should be a default payment option but then the evil banks wouldn't be getting their full value

Makes life easier to manage for me, especially if you are paid fortnightly, as most people seem to be in Oz. Money In, Money Out, live off the rest ...

manc1

Interest rates are going down in England. A good time to by at a fixed interest me thinks.

katesbackagain

Same situation in South Florida with the houses. I got a house in 2005, and the next year my taxes had doubled and insurance tripled. When I had an appraiser round so I could to try to sell it, his eyes went wide when I told him how much I paid for it compared to what it was actually worth when he came round. If I'd sold it and not voluntarily given it back to the bank before a foreclosure, I'd have lost 70K in the sale.

rabsody

Vim, thanks so much for this tip! I looked into it today and it does indeed save me a nice chunk on interest, just by breaking the exact same monthly amount up into fortnightly repayments. I don't understand it, but by god it's good!! Thank you, I owe you a beer (with a champagne chaser ).

Vim Fuego

It took me a few months to change too (not being a great financial wizz meself, I'm a geek by trade) but it makes sense because if you are paying fortnightly you are paying an 'extra' 2 payments compared to monthly (12 months = 24 fortnights vs 52 weeks/2 = 26 fortnights).

So, if you are paying monthly now and can afford to live without a months repayment then it's definitely the way to go.

I shall hold you to the beer at some point

Maybe a fresh thread in the Barbie is required to promote 'financial awareness' for these things? Or maybe it'll just degenerate into another Perth vs Brisbane debate

TraceyW

Noooooo.....why do you think that???

Sunny_Glesga

6.25%? WHERE????????????????

Vim Fuego

In yer dreams, I just picked a rate out at random

Major Edmund Lockyer

Vim,

having lived in both cities and localities, Perth and Brisbane, and in the Uk at the moment, I dont understand all this fuss of comparing, each has its benefits.

I wont even mention any negative, as for me whats the point, i aint got time in my life to dwell on that, spent enough whinging to myself and its futile.

On that subject tho, instead of selling my house in Uk, I have rented it, and its cheaper than buying in Aus, at the moment, as the prices are fuelled by unsustainable factors in some areas.This way I am still on property ladder thanks to someone else, have an investment and rent in Aus, which gives me the opportunity to move around and avoid daft interest rates which you guys are experincing.

Vim Fuego

You ain't wrong, I also prefer to live my life, it's a natural human thing to compare though and as long as you are comfortable in your own mind then most of the forum catfights can be taken as a bit of entertainment.

I was advised to rent out in the UK when I decided to sell my flat but I needed to clear some debt and burnt off the equity travelling and generally having a good time ... I subsequently amassed a huge credit card debt to boot ... so that is why my wife is the financial controller these days.

dunroving

That depends ... if they continue to go down, getting a fixed rate now does not make sense ...

Jaycee1

Yeah, you can be our financial advisor
Cos I'll bl@@dy need one when I get there! I spent our month on the reccie harassing the OH with 'How much is this then?' (conversion).You can imagine the response after 1 week of this...:curse:
J x

onepearlyb

Anyone considering renting while their here in Oz and buying in the Uk then?
Especially for those thinking of returning in a few years. If the interest rates are going down - sounds like a great time to make a purchase over there.
Unlike here.
*pearly*

paula logan

Ihate to be another winging pom but there you go! I agree with you we emigrated here June 2006 with what we thought was a decent depost we are still renting because of terribly low wages ad the general cost of living ie,food (cant believe the price of a loaf!!) petrol, rent etc.I am a hairdresser and have been for 24 years I noe earn what i was earning 10 yearsago in uk but the difference there was we got tips too! I am considering going back as I cant see us ever being able to have a comfortable life here.